Global Healthcare IoT Security Market 2020-2025:Dynamics and Competitive Scenario through

The Global Healthcare IoT Security Market is expected to register 39.44% CAGR and is anticipated to reach USD 130,629.55 Million by 2025. Individuals today are using various kinds of networked devices to learn more about their health and daily regime. Home monitoring of aging population related to medical emergencies and medical adherence has become possible due to the increasing use of mHealth applications and smart pills.

However, the rewards of IoT also comes with the aspect of concern regarding the security and the privacy of the patient healthcare data. Mobile and wearable devices, pacemakers, insulin pumps, and other medical systems in the IoT create more access points prone to hackers. The security solutions and services play a critical role for the healthcare organizations to perform vulnerability management and secure the protected health information passing from IoT devices to the healthcare organizations.

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Market Dynamics

The market for healthcare IoT security is expected to register double-digit growth during the forecast period. The major factors influencing the growth of the market include increased data privacy concerns among consumers, increased government concerns over healthcare IoT security, increased usage of smart devices for health management and increased proliferation of cybercrimes in healthcare.

With the emergence of IoT in healthcare, consumers can now track their health in real time and simultaneously share healthcare information with their caregivers and healthcare organizations. However, the ease and usage of these devices are also raising security concerns among consumers. As the use of IoT increases, data privacy concerns are bound to increase and hence, will act as a key driver for the healthcare IoT security market, globally.


Segmentation

The global healthcare IoT security market has been segmented into components, security type, application. Based on component, the global market is divided into solution and service.Based on solution type, the global market has been segmented into analytics, encryption, data loss protection, identity and access management, unified threat management, and others. Based on service type, the global market has been segmented into consulting services, risk assessment services, design & integration services, managed security services, and others. Based on security type, the global market is segmented into application security, cloud security, endpoint security, network security, others security. Based on application, the global market is segmented into pharmaceutical, medical devices, and biotechnology.

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Key Players

The prominent players in the global healthcare IoT security market are Inside Secure SA, IBM Corporation, Cisco Systems Inc., Intel Corporation, Oracle Corporation, Sophos Group plc, Symantec Corporation, Trend Micro Inc, Checkpoint Software Technology, Kaspersky Labs, Fortinet Inc, Intelen Inc, Eurotech SpA, Deutsche telekom AG, SecureFLO LLC, Dell Corporation, Atmel Corporation, Security Mentor, Klynveld Peat Marwick Goerdeler, Agile Cyber Security Solutions, LLC.

Some of the key strategies followed by the players operating in the global healthcare IoT security market are innovation, product development, acquisition, and expansion.

Regional Analysis

The global healthcare IoT security market, based on region, is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is estimated to dominate the global healthcare IoT security market during the forecast period. The region accounted for a major market share with 41% of the global market owing to increasing healthcare IoT adoption. Therefore, data security of protected health information becomes pivotal.Europe accounted for the second-largest market share owing to the increasing concerns about security and privacy issues related to mHealth applications.

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Asia-Pacific is expected to grow with the fastest CAGR of 46.24% during the forecast period. The region is becoming the global hub for clinical trials and comprises 60% of the world population. Moreover, the adoption of healthcare IoT is rapidly increasing. Therefore, the need for IoT security in the region has become crucial.

Key Updates

In February 2016, Cisco systems Inc. acquired Jasper technologies for USD 1.4 billion to strengthen its IoT product portfolio.

In January 2016, Kaspersky Lab partnered with WISeKey to enhance endpoint security solutions for the connected wearables.

Market Segmentation

Global Healthcare IoT Security Market, by Component

Solution

Analytics

Encryption

Data Loss Protection

Identity and Access Management

Unified Threat Management

Others

Services

Consulting Services

Risk Assessment Services

Design & Integration Services

Managed Security Services

Others

Global Healthcare IoT Security Market, by Service type

Application Security

Cloud Security

Endpoint Security

Network Security

Others Security

Global Healthcare IoT Security Market, by Application

Pharmaceutical

Medical Devices

BIoTechnology

Others

Global Healthcare IoT Security Market, by Region

Americas

North America

US

Canada

Latin America

Europe

Western Europe

Germany

UK

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Asia-Pacific

China

Japan

India

Australia

South Korea

Rest of Asia-Pacific

Middle East & Africa

Middle East

Africa

Available Additional Customizations

Additional Companies

Supply & Demand Analysis

Intended Audience

Healthcare IT companies

Government research organizations

Hospitals and clinics

Regulatory agencies

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